Bourgeon Capital Management LLC trimmed its holdings in Prologis Inc (NYSE:PLD) by 4.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,805 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Prologis accounts for about 1.6% of Bourgeon Capital Management LLC’s holdings, making the stock its 29th biggest holding. Bourgeon Capital Management LLC’s holdings in Prologis were worth $2,966,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sandy Spring Bank acquired a new stake in Prologis during the third quarter worth about $33,000. Prestige Wealth Management Group LLC acquired a new stake in Prologis during the second quarter worth about $39,000. Hexavest Inc. acquired a new stake in Prologis during the second quarter worth about $42,000. HM Payson & Co. acquired a new stake in Prologis during the second quarter worth about $43,000. Finally, Coastal Investment Advisors Inc. increased its position in Prologis by 1,772.2% during the second quarter. Coastal Investment Advisors Inc. now owns 674 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 638 shares during the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.
Several equities research analysts recently issued reports on PLD shares. Wells Fargo & Co raised their price objective on shares of Prologis from $84.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. ValuEngine cut shares of Prologis from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus set a $95.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays set a $92.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Evercore ISI upgraded shares of Prologis from an “in-line” rating to an “outperform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $88.58.
Shares of PLD traded down $0.19 during trading on Friday, reaching $87.07. 2,145,334 shares of the company traded hands, compared to its average volume of 2,394,095. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $92.49. The stock has a market cap of $54.27 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 4.52 and a beta of 0.99. The stock has a 50-day simple moving average of $87.04 and a 200-day simple moving average of $81.66. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.44.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.23. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The business had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same period last year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts predict that Prologis Inc will post 3.31 EPS for the current year.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 768 million square feet (71 million square meters) in 19 countries.
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